Industry News

UK Flexible space report 15th July 2018

Flexible workspace offices across the UK have risen by 10 per cent in the last year, according to the latest research.
The study, carried out by The Instant Group, also shows that corporate firms are playing a bigger role in the demand for flexible workspace, with roughly 30 per cent of flexible space in London now being occupied by larger companies such as banks.

The flexible office sector has also seen an increase of scale, with deals for 20 plus and 50 plus desk requirements rising by 12 per cent and 19 per cent respectively. Profits for firms such as Workspace and WeWork have shot up as demand for shorter-term lets and flexible office space in the property market grows.

However, while the flexible workspace arena has become known for giants like WeWork and TOG, smaller, more niche providers now make up 83 per cent of the market in London.

Flexible office space to become the new normal
John Duckworth, of Instant, said: "There are two key trends in our market data: the continued diversification of the flexible workspace offer from a growing number of operators and the large increase in corporate demand for flexible options."

Duckworth added: "It is becoming increasingly competitive in parts of central London – such as the West End and the City fringe – but there are many more companies who might not have previously looked at flex space options that are now committed to flexible workspace as part of their portfolio."